Fortum : Confirms its profile as a yield company
>Interim results publication undershoots our expectations but ahead of the consensus - Fortum published on Thursday, 15 August, a set of H1 2024 results which were undershot our expectations but topped those of the consensus. Like-for-like EBITDA totalled €948m (down 16% y-o-y), below ODDO BHF (€ 980m) but above the Vara consensus estimate (€ 923m). Like-for-like operating profit came in at € 763m (-21%), compared with our forecast of € 813m (consensus € 735m). Recurr...Fortum is an energy company. Co.'s operations are organised in five divisions: Hydro Power and Technology and Nuclear and Thermal Power, which are engaged in its hydro, nuclear and thermal power generation, services, portfolio management and trading as well as technology and research and development functions; Heat, Electricity Sales and Solutions, which consists of Co.'s combined heat and power production, district heating and business-to-business heating solutions, solar business, electricity sales and related customer offering; Russia, which consists of power and heat generation as well as heat distribution in Russia; and Distribution, which focuses on distribution activities in Sweden.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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